NovaGold Resources (TSE:NG) Raised to Moderate Buy at Canaccord Genuity Group

NovaGold Resources (TSE:NG) was upgraded by equities researchers at Canaccord Genuity Group to a “moderate buy” rating in a report released on Thursday,Zacks.com reports.

Separately, Scotiabank set a C$21.00 price target on shares of NovaGold Resources and gave the company an “outperform” rating in a report on Friday, February 6th. Three equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and an average target price of C$18.00.

NovaGold Resources Price Performance

NovaGold Resources stock opened at C$11.35 on Thursday. The firm has a market capitalization of C$4.98 billion, a price-to-earnings ratio of -45.40 and a beta of 2.91. The company’s 50 day simple moving average is C$14.27 and its 200 day simple moving average is C$13.18. NovaGold Resources has a fifty-two week low of C$3.22 and a fifty-two week high of C$19.69.

NovaGold Resources (TSE:NG) last issued its earnings results on Thursday, January 22nd. The company reported C($0.05) EPS for the quarter.

Insider Buying and Selling at NovaGold Resources

In other NovaGold Resources news, Director Dawn Patricia Whittaker acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were acquired at an average price of C$12.79 per share, for a total transaction of C$51,160.00. Following the acquisition, the director directly owned 4,000 shares of the company’s stock, valued at approximately C$51,160. This trade represents a ? increase in their position. 26.46% of the stock is owned by company insiders.

About NovaGold Resources

Novagold Resources Inc is a mineral exploration company engaged in the exploration and development of mineral properties. The company owns 50% of the Donlin Gold project, which is located in southwestern Alaska, approximately 20 kilometers north of the village of Crooked Creek on the Kuskokwim River.